138 Elm Avenue
Long Beach, CA 90802
MLS #PW17097787

Income
  • 24units
  • 11,744sq ft
Pending Sale $5,700,000
Est. P&I payment: $21770.14/mo
138 Elm Avenue, Long Beach, CA 90802
  • 138 Elm Avenue, Long Beach, CA 90802 Photo 1
  • 138 Elm Avenue, Long Beach, CA 90802 Photo 2
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  • 138 Elm Avenue, Long Beach, CA 90802 Photo 4
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Description for 138 Elm Avenue, Long Beach, CA 90802
The Elm Avenue Apartments is a 2 story 24-unit apartment community located in the burgeoning East Village Arts District submarket of Long Beach. The property is comprised of sixteen studios, six 1 bedroom + 1 bath units and two 2 bedroom + 1 bath units. All units have been completely renovated. The community amenities include a modern rooftop deck, an on-site laundry facility and off-site parking. The Property offers investors a great opportunity to acquire a turn-key asset in a strong non-rent controlled market.
MLS #PW17097787
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My Notes for MLS #PW17097787

General Features

  • Number Of Buildings: 1
  • Number Of Units Total: 24
  • Year Built: 1914
  • Zoning: LBPD30
  • Elevation Units: Feet
  • Subdivision Name: Downtown (DT)
  • Subdivision Name Other: Downtown (DT)

Exterior Features

  • Lot Features: Level with Street,​No Landscaping
  • Lot Size SqFt: 7,514
  • Lot Size Units: Square Feet
  • Parking YN: 1
  • Parking Features: Off Site
  • Pool Features: None
  • Property Condition: Turnkey
  • Common Walls: 2+ Common Walls
  • Property Attached YN: 1

Interior Features

  • Flooring: Wood
  • Interior Features: Ceiling Fan,​Granite Counters
  • Levels: Two
  • Average 1Bed Area Units: Square Feet
  • Average 2Bed Area Units: Square Feet
  • Average 3Bed Area Units: Square Feet
  • Average Studio Area Units: Square Feet

Utility Features

  • Laundry YN: 1
  • Laundry Features: Community
  • Security Features: Card/Code Access
  • Water Source: Public
  • Sewer: Unknown
  • Appliances YN: 1
  • Appliances: Dishwasher,​Gas Stove,​Microwave,​Refrigerator
  • Number Of Separate Electric Meters: 24
  • Number Of Separate Gas Meters: 24
  • Number Of Separate Water Meters: 24

Financial Features

  • Electric Expense: 3,431
  • Gross Scheduled Income: 390,900
  • Insurance Expense: 3,555
  • Maintenance Expense: 2,245
  • Net Operating Income: 248,931
  • Operating Expense: 122,424
  • Other Expense: 17,101
  • Price Per SqFt: 485.35
  • Professional Management Expense: 18,568
  • Supplies Expense: 995
  • Total Expenses: 122,424
  • Trash Expense: 3,431
  • Water Sewer Expense: 3,431
  • Tax Lot: 10
  • Gross Income: 371,355
  • New Taxes Expense: 69,666
  • Other Expense Description: Misc
  • Price Per Unit: 237,500
  • Total Actual Rent: 32,575

Community Features

  • Community Features: Urban

Miscellaneous Features

  • Building Area Total: 11,744
  • Building Area Units: Square Feet
  • Days On Market: 132
  • Lot Size Source: Assessor
  • Special Listing Conditions: Standard
  • Cumulative Days On Market: 132
  • Tax Census Tract: 5,760.01
  • Tax Tract Number: 5,760

Location

 
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Directions to 138 Elm Avenue, Long Beach, CA 90802
Elm Avenue & East Broadway
Listing information for 138 Elm Avenue, Long Beach, CA 90802 was graciously provided by our friends at the listing brokerage, Keller Williams Pacific Estate and by listing agent Stepp Robert DRE# 01456379

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P&I Payment $21770.14
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Please Note: All information in this site is deemed reliable but not guaranteed. The property information provided on EXIT Alliance Realty's websites is for personal, non-commercial use only and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Property information is gathered from third-party resources including the seller and public records. EXIT Alliance Realty, Onjax, LLC, its affiliates, owners, subsidiaries and subscribers disclaim any and all representations or warranties as to the accuracy or reliability of the information provided. You should verify all claims through personal inspection and/or contact with the appropriate real estate professionals.
Last Updated 04/21/2018 at 1:59pm
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